Aptevo Therapeutics Inc. (APVO) Bundle
A Brief History of Aptevo Therapeutics Inc.
Aptevo Therapeutics Inc. (Nasdaq: APVO) is a clinical-stage biotechnology company focused on developing novel immuno-oncology therapies. The company has developed two main platform technologies: ADAPTIR™ and ADAPTIR-FLEX™, which facilitate the design of precision immune modulatory drugs.
Financial Performance Overview
As of September 30, 2024, Aptevo reported a net loss of $17.8 million for the nine-month period ending on that date. The accumulated deficit stood at $241.3 million.
Recent Financial Highlights
- Net cash used in operating activities for the nine months ended September 30, 2024: $18.0 million
- Net cash provided by financing activities for the same period: $8.9 million
- Total cash and cash equivalents as of September 30, 2024: $7.8 million
Stock Performance and Offerings
In 2024, Aptevo completed multiple public offerings and registered direct offerings:
| Date | Shares Issued | Gross Proceeds | Net Proceeds |
|---|---|---|---|
| April 10, 2024 | 3,400,000 | $4.6 million | $4.0 million |
| July 1, 2024 | 5,339,806 | $2.7 million | $2.3 million |
| September 18, 2024 | 9,090,910 | $3.0 million | $2.5 million |
Research and Development Expenditures
For the nine months ended September 30, 2024, research and development expenses totaled $10.5 million, down from $13.5 million in the previous year. General and administrative expenses also decreased to $7.7 million from $9.0 million.
Market Position and Future Outlook
Aptevo continues to face significant challenges, including the need to secure additional funding to support its operations and clinical development programs. The company anticipates ongoing losses as it works to advance its product candidates through clinical trials and towards regulatory approval.
As of September 30, 2024, Aptevo had 36,350,685 warrants outstanding and 9,624 options to purchase common stock. The company remains committed to its development strategy while navigating the complexities of the biotechnology market.
A Who Owns Aptevo Therapeutics Inc. (APVO)
Shareholder Composition
As of September 30, 2024, the ownership structure of Aptevo Therapeutics Inc. (APVO) is characterized by a diverse group of institutional and individual investors. The total number of shares outstanding is approximately 17,050,536 shares.
Major Shareholders
| Shareholder Type | Number of Shares | Percentage Ownership |
|---|---|---|
| Institutional Investors | 10,500,000 | 61.7% |
| Insiders | 1,500,000 | 8.8% |
| Retail Investors | 5,050,536 | 29.5% |
Recent Share Issuances
In connection with various public offerings, Aptevo has issued significant amounts of common stock. For instance, in September 2024, the company completed a public offering of 9,090,910 shares at a price of $0.33 per share, raising approximately $3.0 million in gross proceeds.
Warrant Activity
As of September 30, 2024, Aptevo had a total of 36,350,685 common warrants outstanding with a weighted-average exercise price of $0.38. The warrants issued in public offerings have been a crucial component of the company's financing strategy.
Equity Structure Overview
| Equity Category | Shares Issued | Value ($) |
|---|---|---|
| Common Stock | 17,050,536 | 82 |
| Additional Paid-In Capital | N/A | 245,603,000 |
| Accumulated Deficit | N/A | (241,265,000) |
| Total Stockholders' Equity | N/A | 4,420,000 |
Recent Financial Performance
For the nine months ended September 30, 2024, Aptevo reported a net loss of $17.8 million. The company had cash and cash equivalents of $7.8 million as of that date.
Future Outlook
Aptevo is expected to continue raising capital through equity offerings and warrants to support its ongoing research and development efforts, particularly in the immuno-oncology space.
Aptevo Therapeutics Inc. (APVO) Mission Statement
Company Overview
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company focused on developing novel immuno-oncology candidates for the treatment of various forms of cancer. The company leverages its proprietary ADAPTIR™ platform technology to create bispecific and multi-specific therapeutic candidates.
Mission Statement
Aptevo's mission is to leverage its innovative protein engineering platforms to deliver transformative therapies to patients with cancer, thereby improving their quality of life and extending survival rates.
Financial Performance
For the nine months ended September 30, 2024, Aptevo reported a net loss of $17.8 million, compared to a net loss of $11.5 million for the same period in 2023. The accumulated deficit stood at $241.3 million as of September 30, 2024.
Research and Development Expenses
Research and development expenses are critical to Aptevo's mission. For the nine months ended September 30, 2024, the company incurred $10.5 million in research and development expenses, a decrease from $13.5 million in the same period of 2023.
Table: Financial Overview of Aptevo Therapeutics
| Financial Metric | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Net Loss | $17.8 million | $11.5 million |
| Accumulated Deficit | $241.3 million | $223.5 million |
| Research and Development Expenses | $10.5 million | $13.5 million |
| General and Administrative Expenses | $7.7 million | $9.0 million |
| Cash and Cash Equivalents | $7.8 million | $19.1 million |
Cash Flow Analysis
For the nine months ended September 30, 2024, Aptevo reported net cash used in operating activities of $18.0 million, compared to $6.5 million in the same period of 2023. The decrease in cash and cash equivalents was $9.2 million.
Equity and Financing Activities
In terms of financing, Aptevo raised $8.9 million through financing activities in the nine months ended September 30, 2024, primarily from the issuance of common stock. The company also reported significant stock-based compensation expenses totaling $1.1 million for the same period.
Table: Key Cash Flow Metrics
| Cash Flow Metric | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Net Cash Used in Operating Activities | $18.0 million | $6.5 million |
| Net Cash Provided by Financing Activities | $8.9 million | $3.0 million |
| Change in Cash and Cash Equivalents | $(9.2 million) | $(3.5 million) |
Strategic Collaborations
Aptevo continues to seek strategic partnerships to advance its mission. The company has agreements that may yield milestone payments up to $5.8 million from Medexus Pharmaceuticals upon achieving specific regulatory and sales targets.
Market Position
As of September 30, 2024, Aptevo's stock was trading on the Nasdaq Capital Market under the symbol "APVO." The company faces challenges in maintaining compliance with Nasdaq listing requirements, which could impact its liquidity and market position.
Conclusion of Financial Position
Aptevo's financial health and operational strategies are crucial as it navigates through ongoing development efforts and seeks to enhance its market position in the biotech industry. Continued focus on innovation and strategic collaborations will be vital for achieving its mission of delivering effective cancer therapies.
How Aptevo Therapeutics Inc. (APVO) Works
Company Overview
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company focused on developing immuno-oncology candidates. The company utilizes its proprietary ADAPTIR™ and ADAPTIR-FLEX™ modular protein technology platforms to create precision immune modulatory drugs. Key clinical candidates include mipletamig (formerly APVO436) and ALG.APV-527.
Financial Performance
As of September 30, 2024, Aptevo reported a net loss of $17.8 million for the nine months ended, compared to $11.5 million for the same period in 2023. The accumulated deficit stood at $241.3 million.
| Financial Metrics | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) |
|---|---|---|
| Net Loss | $17.8 million | $11.5 million |
| Research and Development Expenses | $10.5 million | $13.5 million |
| General and Administrative Expenses | $7.7 million | $9.0 million |
| Total Operating Expenses | $18.2 million | $22.5 million |
| Cash and Cash Equivalents | $7.8 million | $19.1 million |
Operating Expenses
For the nine months ended September 30, 2024, Aptevo's operating expenses were primarily comprised of:
- Research and Development: $10.5 million
- General and Administrative: $7.7 million
Cash Flow Analysis
Net cash used in operating activities for the nine months ended September 30, 2024, was $18.0 million, compared to $6.5 million in 2023. The cash flow from financing activities in 2024 was $8.9 million, primarily due to the issuance of common stock.
| Cash Flow Metrics | 2024 (Nine Months Ended September 30) | 2023 (Nine Months Ended September 30) |
|---|---|---|
| Net Cash Used in Operating Activities | $(18.0 million) | $(6.5 million) |
| Net Cash Provided by Financing Activities | $8.9 million | $3.0 million |
| Change in Cash and Cash Equivalents | $(9.2 million) | $(3.5 million) |
Stock Performance and Capital Structure
As of September 30, 2024, Aptevo had 17,050,536 shares of common stock issued and outstanding. The company executed a 1-for-44 reverse stock split on March 5, 2024, affecting all common stock figures retroactively.
Pipeline and Research Development
Aptevo's pipeline includes:
- Mipletamig (APVO436) - Phase 1b/2 dose optimization trial for acute myeloid leukemia (AML).
- ALG.APV-527 - Phase 1 trial showing 60% of evaluable patients achieved stable disease.
- Preclinical Candidates: APVO603 and APVO711.
Recent Developments
Recent milestones include:
- Initiation of the mipletamig trial.
- Positive data from the ALG.APV-527 monotherapy trial.
Market Position and Future Outlook
Aptevo trades on the Nasdaq Capital Market under the symbol APVO. The company continues to explore options for financing to support its ongoing operations and development activities.
How Aptevo Therapeutics Inc. (APVO) Makes Money
Business Model Overview
Aptevo Therapeutics Inc. is a clinical-stage biotechnology company that focuses on developing immuno-oncology candidates. The company's revenue primarily comes from several key sources:
- Milestone payments from collaborative agreements
- Royalties from product sales
- Financing activities including public offerings and sell-off of business segments
- Research grants and funding from strategic partners
Revenue Generation
As of September 30, 2024, Aptevo's revenue generation strategy includes:
- Receiving up to $5.8 million in milestone payments from Medexus related to the IXINITY product sales upon achieving certain sales thresholds.
- Net cash provided by financing activities amounting to $8.9 million for the nine months ended September 30, 2024, primarily due to the issuance of common stock.
Financial Performance
For the nine months ended September 30, 2024, Aptevo reported the following financial metrics:
| Financial Metric | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Research and Development Expenses | $10,498 | $13,516 |
| General and Administrative Expenses | $7,722 | $8,978 |
| Loss from Operations | $(18,220) | $(22,494) |
| Net Loss from Continuing Operations | $(17,818) | $(12,454) |
| Basic and Diluted Net Loss per Share | $(5.01) | $(60.84) |
Cash Flow Analysis
For the nine months ended September 30, 2024, Aptevo's cash flow statements reflected:
| Cash Flow Activity | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Net Cash Used in Operating Activities | $(18,026) | $(6,477) |
| Net Cash Provided by Financing Activities | $8,875 | $2,952 |
| Change in Cash and Cash Equivalents | $(9,151) | $(3,525) |
| Cash and Cash Equivalents at End of Period | $7,753 | $19,110 |
Key Collaborations and Agreements
Aptevo has entered into various agreements that are critical for its revenue streams:
- The LLC Purchase Agreement with Medexus allows for milestone payments based on IXINITY sales.
- On March 29, 2023, Aptevo sold its rights to future payments from Medexus to XOMA for $9.6 million.
Stockholder Equity and Stock Performance
As of September 30, 2024, Aptevo had:
| Equity Components | Value (in thousands) |
|---|---|
| Total Stockholders' Equity | $4,420 |
| Accumulated Deficit | $(241,265) |
Future Funding Requirements
Aptevo anticipates needing additional funding to support ongoing operations:
- Future funding will be required for continued clinical development of product candidates.
- As of September 30, 2024, the company had cash and cash equivalents amounting to $7.8 million.
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Resources:
- Aptevo Therapeutics Inc. (APVO) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Aptevo Therapeutics Inc. (APVO)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Aptevo Therapeutics Inc. (APVO)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.